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Algae.Tec expands into medicinal marijuana

Algae.Tec is bringing its proprietary algae cultivation technology to the word of medicinal marijuana.

lgae.Tec Limited has announced that it has entered into a Collaboration and License Term Sheet with Jardin De Invierno SA to expand Algae.Tec’s technology and product footprint into the rapidly growing medicinal marijuana and associated markets.

Algae.Tec develops technologies that optimize controlled growing environments for high value natural products. Their proprietary technology platform, according to Algae.Tec, is able to significantly increase yield whilst dramatically reducing costs when applied to controlled cannabis production.

“This is the first of many opportunities to utilize the unique controlled environment technologies that have been developed by Algae.Tec,” said Algae.Tec’s Managing Director, Peter Hatfull, “and rewards the years of research and development undertaken to reach our goals in the high yield cultivation of algae. This collaboration will demonstrate that the innovations achieved to date can be used to enhance the growth and yield potential for a range of agricultural products.”

Jardin De Inviemo SA (JDL), is a biosciences company focused on the production and development of cannabis extracts, derivatives and related intellectual property. JDL has state-of-the-art research & development and production facilities in Uruguay and is the only company federally licensed to cultivate, research and export Cannabis Sativa L Specie for human and agricultural applications. “JDL is pleased to be working with Algae.Tec on this important cannabis research and development program,” said JDL’s President, Julian Strauss.

The annual medical cannabis and related markets exceeded US$6 billion in 2016 with a projected compound annual growth rate of 26% through to 2021, when the market is expected to reach US$21 billion.